Solo Oil #investments
This week has been a better week for me on the stock market. Solo Oil and it’s partners in the Horse Hill prospect all put out an RNS yesterday that sent their share prices up. That was good news for private investors.
The claim that there could be as much as a 100 billion barrels of oil in the Weald Basin could be an exaggeration, but the specialist firm doing the testing does have a lot of expertise. I suspect that there is a lot of oil, but how much of it is extractable? Solo has a plan to get into oil production and use the proceeds to expand their operations. They do seem to have the expertise to identify good exploration targets. Horse Hill isn’t their only investment that is looking good. They also have Tanzania looking good and maybe West Africa too. The gas should start flowing through the new pipeline in Tanzania this year so I am expecting the share price to just keep going north. A little birdie tells me things are looking good for June of this year.
At last Premier Foods is edging up, mostly by a 1/4 of a penny a day, but my losses fall every day and I’ll soon be back in profit. I think the company has a lot of potential and all their power brands are selling better.
Tesco continues to edge up, as does Taylor Wimpey and Balfour Beatty. Balfour Beatty has been downgraded by the brokers, but they have assets that they are realising, so are in a good position. Taylor Wimpey are ex-dividend and will be paying a special dividend this year too.
RSA insurance is making a small loss for me and seems to be a bit of a zombie at the moment. Maybe Steven Hester can make an encouraging announcement? My last purchase was Verona Pharma in the AIM market, that lost another 0.05 this morning. I’m not sure where that’s going, but it’s early days. Graphene Nanochem is the same, fairly stagnant at the moment, but at least it’s not losing value. The company has great prospects so I’ll just watch and wait and expect nothing for a while. Their products are being accepted by the oil industry and the research into new uses for graphene seems very promising. Like Solo it could soar if they make a breakthrough.
My return on my investments fell to just under 10%, still quite decent, but the return has improved this week to around 18% which I’m happy with. In the long run, I think Verona and Graphene Nanochem will come good and I’m expecting good things from Solo this year. Balfour Beatty will make a comeback too as it negotiates contracts on better terms.
The political risks can still upset the markets. I’ll be looking for bargains next week, but will probably hold off until after the election.
Please remember these blog posts are about my investments and thoughts and shouldn’t be taken as advice. Investors have to do their own research and understand the risks. You can subscribe to this blog using the widget in the sidebar or your can follow me on Twitter.